JetBlue Adjusts Second-Quarter Fuel Price Projections

On Monday, JetBlue increased its forecast for second-quarter jet fuel prices due to the ongoing closure of the Strait of Hormuz, as reported by Reuters.

According to a filing with the Securities and Exchange Commission on June 1, jet fuel costs are now anticipated to rise from a low of $4.13 per gallon to $4.26, with a potential high of $4.36. JetBlue attributes this estimate adjustment to fluctuations in Brent crude oil prices.

Interestingly, while fuel prices are slightly higher than prior guidance, the airline expects to recover over 40% of these increased fuel costs within the quarter. They typically do this by raising airfares and baggage fees.

JetBlue did not provide immediate comments when approached for a response. Still, it’s clear that the rise in jet fuel costs is significant, considering that fuel is the second-largest expense for airlines, only after personnel costs.

Before recent conflicts, jet fuel was priced around $90 per barrel, but it’s now approximately $142. This price surge roughly follows the trend of Brent crude oil prices, which have fluctuated between $90 and $126 per barrel since late February 2026. As of June 1, Brent was trading at about $97 per barrel.

Despite rising costs, JetBlue noted strong travel demand in the second quarter. They observed healthy booking trends, particularly for routes previously operated by Spirit Airlines, which has seen increased performance since Spirit’s closure. However, early indications for the third quarter suggest mixed expectations.

Spirit Airlines ceased operations in early May, struggling with soaring oil prices linked to the recent Iran conflict. Furthermore, a federal judge has blocked JetBlue’s proposed $3.8 billion acquisition of Spirit, citing antitrust issues, leading both companies to abandon the deal in March.